ADVM Adverum Biotechnologies Inc.

12.38
-0.45  -4%
Previous Close 12.83
Open 13.01
52 Week Low 4.96
52 Week High 26.98
Market Cap $1,204,965,839
Shares 97,331,651
Float 89,692,362
Enterprise Value $956,305,839
Volume 6,735,866
Av. Daily Volume 1,423,717
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Upcoming Catalysts

Drug Stage Catalyst Date
ADVM-022 - INFINITY
Diabetic macular edema
Phase 2
Phase 2
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Drug Pipeline

Drug Stage Notes
ADVM-022 (OPTIC)
Wet age-related macular degeneration (Wet-AMD)
Phase 1
Phase 1
Phase 1 updated data from all four cohorts was well tolerated. Pivotal trial to commence mid-2021.
ADVM-043
Alpha-1 Antitrypsin (A1AT) Deficiency
Phase 1/2
Phase 1/2
Development to be discontinued - noted November 1, 2018.
AVA-101
Wet age-related macular degeneration (Wet-AMD)
Phase 2a
Phase 2a
Phase 2a negative data released June 2015 (met primary endpoint but increase in retinal thickness). As a result Phase 2b development will not proceed.

Latest News

  1. REDWOOD CITY, Calif., Sept. 15, 2020 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases, today announced that Christopher J. Morrison, Ph.D. joined the company as vice president, process development, reporting into Adverum's chief technology officer Angela Thedinga.

    "Chris brings a wealth of AAV gene therapy experience and will lead the scale-up of our commercial manufacturing process for ADVM-022," said Angela Thedinga, chief technology officer of Adverum. "We are delighted to welcome Chris at this exciting and pivotal time as we continue to execute on our strategy to deliver ADVM-022 to patients."

    Christopher J. Morrison, Ph.D…

    REDWOOD CITY, Calif., Sept. 15, 2020 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases, today announced that Christopher J. Morrison, Ph.D. joined the company as vice president, process development, reporting into Adverum's chief technology officer Angela Thedinga.

    "Chris brings a wealth of AAV gene therapy experience and will lead the scale-up of our commercial manufacturing process for ADVM-022," said Angela Thedinga, chief technology officer of Adverum. "We are delighted to welcome Chris at this exciting and pivotal time as we continue to execute on our strategy to deliver ADVM-022 to patients."

    Christopher J. Morrison, Ph.D. has 10 years of pharmaceutical industry experience and has a background in gene therapy, recombinant adeno-associated viral vector (rAAV) process development, and clinical manufacturing. Most recently, he worked with ApicBio Therapeutics as senior director, biopharmaceutical development. Previously, he worked with Gemini Therapeutics as senior director, CMC operations. Earlier, he worked with Voyager Therapeutics, serving as director, biopharmaceutical development, promoted from associate director, head of process development. At Voyager, he directed the development and implementation of Phase 1/2 and Phase 3 manufacturing processes for multiple rAAV products of assorted serotypes and genomic construct produced by Sf9-Baculovirus or HEK293 transient transfection-based production systems. Dr. Morrison began his industry career at Pfizer as a senior scientist before being promoted to principal scientist, responsible for downstream purification processes for a broad range of biological molecules.

    Dr. Morrison earned a Doctorate of Philosophy in Chemical and Biological Engineering from Rensselaer Polytechnic Institute and a Bachelor of Science in Chemical Engineering from the University of Wisconsin at Madison.

    On September 14, 2020, the company granted Dr. Morrison a stock option to purchase 100,000 shares of Adverum's common stock pursuant to the inducement grant exception under Nasdaq Rule 5635(c)(4), as an inducement that is material to his entering into employment with Adverum. The option has a per share exercise price equal to the closing sales price of Adverum's common stock on the Nasdaq Stock Market on the grant date, and will vest over four years, subject to his continued service with Adverum.

    About Adverum Biotechnologies

    Adverum Biotechnologies (NASDAQ:ADVM) is a clinical-stage gene therapy company targeting unmet medical needs in serious ocular and rare diseases. Adverum is advancing the clinical development of its novel gene therapy candidate, ADVM-022, as a one-time, intravitreal injection for the treatment of patients with wet age-related macular degeneration and diabetic macular edema. For more information, please visit www.adverum.com.

    Forward-looking Statements

    Statements contained in this press release regarding the events or results that may occur in the future are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements regarding: Adverum's advancements of current clinical trials, and its plans for later-stage clinical trials and growth and expansion of its process development capabilities; and Adverum's expectations as to the benefits it expects from the addition of Dr. Morrison. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include risks inherent to, without limitation: Adverum's novel technology, which makes it difficult to predict the time and cost of product candidate development and obtaining regulatory approval; the results of early clinical trials not always being predictive of future results; the potential for future complications or side effects in connection with use of ADVM-022; obtaining regulatory approval for gene therapy product candidates; enrolling patients in clinical trials; reliance on third parties for conducting the OPTIC and INFINITY trials and vector production; the effects of the COVID-19 pandemic on the company's operations and on the company's ongoing clinical trials; and ability to fund operations through completion of the OPTIC and INFINITY trials and thereafter. Risks and uncertainties facing Adverum are described more fully in Adverum's Form 10-Q filed with the SEC on August 10, 2020 under the heading "Risk Factors." All forward-looking statements contained in this press release speak only as of the date on which they were made. Adverum undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

    Investor and Media Inquiries:
    
    Investors:
    Myesha Lacy
    Adverum Biotechnologies, Inc.
    
    1-650-649-1257
    
    Media:
    Cherilyn Cecchini, M.D.
    LifeSci Communications
    lifescicomms.com
    1-646-876-5196

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  2. REDWOOD CITY, Calif., Sept. 10, 2020 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases, today announced that the company will present at the Cantor Virtual Global Healthcare Conference on Tuesday, September 15, 2020 at 1:00 pm PT.

    A live webcast will be accessible under Events and Presentations in the Investors section of the company's website. The archived webcast will be available on the Adverum website following the presentation for 30 days.

    About Adverum Biotechnologies
    Adverum Biotechnologies (NASDAQ:ADVM) is a clinical-stage gene therapy company targeting unmet medical needs in serious ocular and rare diseases. Adverum is advancing…

    REDWOOD CITY, Calif., Sept. 10, 2020 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases, today announced that the company will present at the Cantor Virtual Global Healthcare Conference on Tuesday, September 15, 2020 at 1:00 pm PT.

    A live webcast will be accessible under Events and Presentations in the Investors section of the company's website. The archived webcast will be available on the Adverum website following the presentation for 30 days.

    About Adverum Biotechnologies

    Adverum Biotechnologies (NASDAQ:ADVM) is a clinical-stage gene therapy company targeting unmet medical needs in serious ocular and rare diseases. Adverum is advancing the clinical development of its novel gene therapy candidate, ADVM-022, as a one-time, intravitreal injection for the treatment of patients with wet age-related macular degeneration and diabetic macular edema. For more information, please visit www.adverum.com.

    Investor and Media Inquiries:

    Investors:

    Myesha Lacy

    Adverum Biotechnologies, Inc.

    om

    1-650-304-3892

    Media:

    Cherilyn Cecchini, M.D.

    LifeSci Communications



    1-646-876-5196

     

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  3. REDWOOD CITY, Calif., Aug. 18, 2020 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases, today announced the closing of its previously announced underwritten public offering of 16,675,000 shares of its common stock at a public offering price of $13.00 per share, which included the full exercise of the underwriters' option to purchase up to an additional 2,175,000 shares of common stock. The gross proceeds to Adverum before deducting underwriting discounts and commissions and offering expenses payable by Adverum were approximately $216.8 million.

    Goldman Sachs & Co. LLC, Cowen and Company, LLC, SVB Leerink LLC and Piper Sandler & Co…

    REDWOOD CITY, Calif., Aug. 18, 2020 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases, today announced the closing of its previously announced underwritten public offering of 16,675,000 shares of its common stock at a public offering price of $13.00 per share, which included the full exercise of the underwriters' option to purchase up to an additional 2,175,000 shares of common stock. The gross proceeds to Adverum before deducting underwriting discounts and commissions and offering expenses payable by Adverum were approximately $216.8 million.

    Goldman Sachs & Co. LLC, Cowen and Company, LLC, SVB Leerink LLC and Piper Sandler & Co. acted as joint book-running managers for the offering.

    The shares described above were offered by Adverum Biotechnologies pursuant to a shelf registration statement on Form S-3 that was previously filed by Adverum Biotechnologies with the Securities and Exchange Commission (the "SEC") on August 8, 2019, and became automatically effective on that date. The final prospectus supplement and accompanying prospectus relating to and describing the terms of the offering was filed with the SEC on August 13, 2020, and is available on the SEC's website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus related to this offering may be obtained from: Goldman Sachs & Co. LLC by mail at 200 West Street, New York, NY 10282, Attention: Prospectus Department, by telephone at (866) 471-2526, or by email at ; Cowen and Company, LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY,11717, Attn: Prospectus Department, by email at or by telephone at (833) 297-2926; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, by telephone at 1-800-808-7525, ext. 6218, or by email at ; or Piper Sandler & Co., Attn: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by telephone at (800) 747-3924 or by email at .

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

    About Adverum Biotechnologies, Inc.

    Adverum Biotechnologies is a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases.

    INVESTOR & MEDIA CONTACT:

    Investors:

    Myesha Lacy

    Adverum Biotechnologies, Inc.



    1-650-304-3892

    Media:

    Cherilyn Cecchini, M.D.

    LifeSci Communications



    1-646-876-5196

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    View Full Article Hide Full Article
  4. REDWOOD CITY, Calif., Aug. 12, 2020 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases, today announced the pricing of its underwritten public offering of 14,500,000 shares of its common stock at a public offering price of $13.00 per share. The company has granted the underwriters a 30-day option to purchase up to an additional 2,175,000 shares of its common stock offered in the public offering at the public offering price, less discounts and commissions. All of the shares in the offering are being sold by Adverum Biotechnologies. Adverum expects gross proceeds from the offering, before deducting the underwriting discounts and commissions…

    REDWOOD CITY, Calif., Aug. 12, 2020 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases, today announced the pricing of its underwritten public offering of 14,500,000 shares of its common stock at a public offering price of $13.00 per share. The company has granted the underwriters a 30-day option to purchase up to an additional 2,175,000 shares of its common stock offered in the public offering at the public offering price, less discounts and commissions. All of the shares in the offering are being sold by Adverum Biotechnologies. Adverum expects gross proceeds from the offering, before deducting the underwriting discounts and commissions and offering expenses, will be approximately $188.5 million, assuming no exercise of the underwriters' option to purchase additional shares.  The offering is expected to close on or about August 17, 2020, subject to satisfaction of customary closing conditions.

    Goldman Sachs & Co. LLC, Cowen and Company, LLC, SVB Leerink LLC and Piper Sandler & Co. are acting as joint book-running managers for the offering.

    The shares described above are being offered by Adverum Biotechnologies pursuant to a shelf registration statement on Form S-3 that was previously filed by Adverum Biotechnologies with the Securities and Exchange Commission (the "SEC") on August 8, 2019, and became automatically effective on that date. The final prospectus supplement and accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus related to this offering, when available, may be obtained from: Goldman Sachs & Co. LLC by mail at 200 West Street, New York, NY 10282, Attention: Prospectus Department, by telephone at (866) 471-2526, or by email at ; Cowen and Company, LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY,11717, Attn: Prospectus Department, by email at or by telephone at (833) 297-2926; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, by telephone at 1-800-808-7525, ext. 6218, or by email at ; or Piper Sandler & Co., Attn: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by telephone at (800) 747-3924 or by email at .

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

    About Adverum Biotechnologies, Inc.

    Adverum Biotechnologies is a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases.

    Forward-Looking Statements



    This press release contains or may imply "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include statements regarding the completion of the proposed public offering. These statements are subject to various risks and uncertainties, and actual results could differ materially from those projected. Adverum Biotechnologies cautions investors not to place undue reliance on the forward-looking statements in this press release. These risks and uncertainties include, without limitation, risks and uncertainties related to satisfaction of customary closing conditions related to the public offering. There can be no assurance that Adverum Biotechnologies will be able to complete the public offering on the anticipated terms, or at all. Risks and uncertainties relating to Adverum Biotechnologies and its business can be found under the heading "Risk Factors" in Adverum Biotechnologies' preliminary prospectus supplement related to the proposed offering filed with the SEC on August 11, 2020 and under the caption "Risk Factors" in Adverum Biotechnologies' Quarterly Report on Form 10-Q filed with the SEC on August 10, 2020. Except as otherwise required by law, Adverum Biotechnologies disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise.

    INVESTOR & MEDIA CONTACT:

    Investors:

    Myesha Lacy

    Adverum Biotechnologies, Inc.



    1-650-304-3892

    Media:

    Cherilyn Cecchini, M.D.

    LifeSci Communications



    1-646-876-5196

     

    Primary Logo

    View Full Article Hide Full Article
  5. REDWOOD CITY, Calif., Aug. 11, 2020 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases, today announced that it has commenced an underwritten public offering of $200 million of its common stock. The company intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock offered in the public offering. All of the shares in the offering will be sold by Adverum Biotechnologies. The offering is subject to market and other conditions, and there can be no assurances as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

    Goldman Sachs…

    REDWOOD CITY, Calif., Aug. 11, 2020 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases, today announced that it has commenced an underwritten public offering of $200 million of its common stock. The company intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock offered in the public offering. All of the shares in the offering will be sold by Adverum Biotechnologies. The offering is subject to market and other conditions, and there can be no assurances as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

    Goldman Sachs & Co. LLC, Cowen and Company, LLC, SVB Leerink LLC and Piper Sandler & Co. are acting as joint book-running managers for the proposed offering.

    The shares described above are being offered by Adverum Biotechnologies pursuant to a shelf registration statement on Form S-3 that was previously filed by Adverum Biotechnologies with the Securities and Exchange Commission (the "SEC") on August 8, 2019, and became automatically effective on that date. The preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus related to this offering, when available, may be obtained from: Goldman Sachs & Co. LLC by mail at 200 West Street, New York, NY 10282, Attention: Prospectus Department, by telephone at (866) 471-2526, or by email at ; Cowen and Company, LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY,11717, Attn: Prospectus Department, by email at or by telephone at (833) 297-2926; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, by telephone at 1-800-808-7525, ext. 6218, or by email at ; or Piper Sandler & Co., Attn: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by telephone at (800) 747-3924 or by email at . The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

    About Adverum Biotechnologies, Inc.

    Adverum Biotechnologies is a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases.

    Forward-Looking Statements



    This press release contains or may imply "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include statements regarding the size and completion of the proposed public offering. These statements are subject to various risks and uncertainties, actual results could differ materially from those projected and Adverum Biotechnologies cautions investors not to place undue reliance on the forward-looking statements in this press release. These risks and uncertainties include, without limitation, risks and uncertainties related to market conditions and satisfaction of customary closing conditions related to the public offering. There can be no assurance that Adverum Biotechnologies will be able to complete the public offering on the anticipated terms, or at all. Risks and uncertainties relating to Adverum Biotechnologies and its business can be found under the heading "Risk Factors" in Adverum Biotechnologies' preliminary prospectus supplement related to the proposed offering filed or to be filed with the SEC on August 11, 2020 and under the caption "Risk Factors" in Adverum Biotechnologies' Quarterly Report on Form 10-Q filed with the SEC on August 10, 2020. Except as otherwise required by law, Adverum Biotechnologies disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise.

    INVESTOR & MEDIA CONTACT:

    Investors:

    Myesha Lacy

    Adverum Biotechnologies, Inc.



    1-650-304-3892

    Media:

    Cherilyn Cecchini, M.D.

    LifeSci Communications



    1-646-876-5196

    Primary Logo

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